E-Pharma

1mg reported revenue of Rs 357.9 crore for 2019-20 (FY20), and Rs 266 crore for the period from April 1, 2020, to January 31, 2021

The move ahead of the Gurugram-based firm's acquisition by the Tata Sons arm

Amazon, Reliance recently announced their foray into e-pharma sector

The government should finalise and notify e-pharmacy rules immediately as the regulatory uncertainty dampens growth and new investment in the sector, according to the experts. Panellists on the discussion also said there remains ambiguity on the legality of marketplaces. They were participating in a discussion on 'e-Pharmacy: Digitally Empowering Consumers & Small Businesses' organised by the Internet and Mobile Association of India (IAMAI). "We must notify the rules which are catching dust within the ministry at the earliest opportunity... All e-pharmacies are governed by law and governed by the manner which is being spelt out in the law," Patients Safety and Access Founder Director Bejon Misra said. The notification is pending and it should come out as soon as possible, he added. "We must encourage healthy competition at the marketplace and we must encourage ethical players, we must recognise them," Misra said. In a similar vein, 1mg Chief Operating Officer Tanmay Saksena said:

Reliance swoops on Netmeds; sector expected to hit revenues of over $3.6 bn by 2022

The Netmeds acquisition will help it enter online drug sales, making it an integrated player. The firm has a ready customer base of 400 mn mobile users whom it could tap for its online health services

Jio Platforms, the digital services subsidiary of Reliance Industries, is working on a three-point strategy.

The platforms have seen an upsurge up to 3x their weekly average orders, with hand sanitisers and masks being the most sought-after products

Top players focus on offline expansion plans

Online drug sellers are set to disrupt the brick-and-mortar retailer, provided they are willing and able to meet a difficult, albeit reasonable regime of compliance

Around 1.5 million customers purchase medicines online and a ban would impact their lives

The court had, on October 31, issued an interim order restricting online sale of medicines without a license and had directed Centre or competent authority to curb such sales

According to analysts, banking only on delivering medicines to the doorstep and offering discounts cannot work to ensure repeat customers

Progressive legislation and improved regulatory framework needed for success of fast-emerging business

E-pharmacy business model benefits consumers due to increased transparency, access, affordability and convenience